Betting and Gaming Council pledges cooperation with new Labour government

Industry

The Betting and Gaming Council (BGC) has welcomed Labour’s landslide election victory and pledged to work with the new government to enhance the UK’s betting and gaming industry while driving economic growth and championing safer gambling standards.

Labour secured a decisive victory on July 4, having previously promised in their manifesto to collaborate with the industry to elevate responsible gambling standards and maintain the UK’s leadership in the betting sector.

The BGC said it is committed to the regulatory reforms outlined in the 2023 White Paper, supported by Labour, which aim to strengthen protections and ensure a robust regulatory framework. Key measures include a statutory levy to tackle problem gambling, an Ombudsman for consumer redress, online financial risk checks, new stake limits for online slots, and modernization of land-based casinos.

“On behalf of our members, the 110,000 people whose jobs rely on the regulated betting and gaming industry, and the 22.5 million people who enjoy a bet each month, we welcome Labour’s victory and its commitment to continue working with the industry,” said BGC Chair Michael Dugher.

Dugher highlighted the industry’s significant economic contributions, emphasizing its readiness to support growth, jobs, and investment across the UK. “We are investing in virtually every constituency in the land and we look forward to working with all the newly elected Members of Parliament,” he added.

The BGC said it aims to implement the White Paper’s evidence-based regulatory changes, balancing the protection of vulnerable individuals while allowing responsible betting. Dugher praised the industry’s transformation and contrasted it with the risks posed by the unregulated black market online.

“The BGC and our members remain committed to working with Labour to implement the evidence-based, proportionate, regulatory changes outlined in the White Paper,” Dugher said. “Our work to drive up standards and champion a world-leading British industry carries on, and we look forward to partnering with Labour in this vitally important work.”

The regulated betting and gaming industry in the UK supports 110,000 jobs, generates £4.2 billion ($5.37 bilion) in tax revenue, and contributes £7.1 billion to the economy, according to the trade body. The industry also provides funding to popular sports, including £40 million to the English Football League, £350 million to horseracing, and over £12.5 million to snooker, darts, and rugby league.

About 22.5 million adults in Britain place bets each month, with the most recent NHS Health Survey for England estimating that 0.4% of the adult population are problem gamblers.

Products You May Like

Articles You May Like

Nebraska casinos generate over $2.6 million in revenue from first year of legal sports betting
BGaming Expands into Bulgaria with Inbet Partnership
How Much Money Will the 2024 WSOP Main Event Winner Take Home?
Kurt McPhail, a Part of the WPT Family for 17 Years, Passes Away Unexpectedly
Singapore Enhances Casino Regulations with New Due Diligence and Weapons Finance Scrutiny

Leave a Reply

Your email address will not be published. Required fields are marked *